Constellation Energy Partners Withdraws Proposals Regarding Potential Change
in Tax Election
Business Wire
HOUSTON -- December 06, 2012
Constellation Energy Partners LLC (NYSE MKT: CEP) today announced that it has
withdrawn two proposals from consideration at the company’s annual meeting,
currently scheduled for Dec. 14, 2012, that would have facilitated an election
by the company to be treated as a corporation rather than a partnership for
income tax purposes.
The decision to withdraw the proposals comes after the company received a
Class A Unitholder Ballot on Nov. 30, 2012 from Constellation Energy Partners
Management, LLC (“CEPM”) indicating an election to vote all of the Class A
units against both proposals. CEPM is a wholly owned affiliate of PostRock
Energy Corporation.
The withdrawn proposals are Proposal Nos. 2 and 3 in the company’s proxy
statement for the annual meeting, and these proposals will not be presented
for a vote at the annual meeting.
Approval of the proposals would have required the affirmative vote of both the
holders of a majority of the company’s common (or Class B) units outstanding
and entitled to vote thereon, voting as a separate class, and the affirmative
vote of the holders of a majority of the Class A units outstanding and
entitled to vote thereon, voting as a separate class.
About the Company
Constellation Energy Partners LLC (www.constellationenergypartners.com) is a
limited liability company focused on the acquisition, development and
production of oil and natural gas properties, as well as related midstream
assets.
Contact:
Constellation Energy Partners LLC
Investor Contact:
Charles C. Ward, 877.847.0009
or
General Inquiries:
877.847.0008
www.constellationenergypartners.com